But the BOA chief executive told insidethegames in an exclusive interview that the body's plan was for this loss to be cancelled out by the profit that should be generated in Olympic year in 2012.

"When you look at those two financial years, our business plan actually says it will break even," Hunt revealed.

"Our plan is to break even over the 2011-2012 period."

The Olympic business is heavily cyclical with both costs and revenues for National Olympic Committees (NOCs) almost inevitably peaking during the one year in every four that sees the staging of a Summer Games.

The present cycle is uniquely challenging for the BOA since, with the 2012 Olympics in London, it is the host nation NOC.

Because of this it must cover the costs associated with the biggest British Olympic team in a century.

These will be higher than the approximately £8 million ($13 million) it cost to send the British team to the Beijing Games in 2008.

Yet the BOA's total revenue for 2010, according to accounts released last week, was £11.6 million ($18.8 million).

Hunt also revealed that the BOA plans to go to market with rights for the next Olympic quadrennium, running from 2013 to the 2016 Games in Rio de Janeiro, this coming September.

He claimed that the BOA's partnership with the London 2012 Olympic organising committee was "stronger than ever".

To read the full interview click here. 

Contact the writer of this story at [email protected]


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